Arthid Nanthawithaya, Chief Executive Officer of SCB X Public Company Limited (SET: SCB), revealed the progress of the strategic collaboration on a Virtual Bank with KakaoBank, the largest digital bank in the Republic of Korea, and WeBank Technology Services, a leading global provider of digital banking technology. The three organizations have officially elevated their cooperation to a tri-party collaboration model, combining each party’s strengths and expertise to their full potential in preparation for launching a virtual bank in Thailand.
This collaboration reflects their shared goal to enhance the efficiency of financial services, expand access to these services, and develop digital financial innovation that meets the needs of Thai consumers in the digital era—focusing particularly on the general public and small entrepreneurs. The virtual bank will be designed for easy access, convenience, and to support customers in achieving their financial and quality-of-life goals.
The development of the virtual bank will involve close cooperation among the three organizations. SCB brings expertise in Thailand’s financial ecosystem, deep consumer insight, and experience in large-scale financial operations.
KakaoBank offers strengths in operating digital banks on mobile platforms, product innovation, and customer-centric user experience design. Meanwhile, WeBank Technology Services contributes expertise in digital banking technology, robust scalable infrastructure, and artificial intelligence technology (AI), backed by experience serving a vast global user base.
Arthid stated that one of the core elements in designing the virtual bank is deploying AI at the infrastructure level, encompassing core banking processes, product development, and customer interaction—aiming to become an AI-native Bank. This will drive operational efficiency, personalized services, and data-driven decision-making, while further promoting inclusive and equitable access to financial services.
Furthermore, following their agreement, the three organizations will continue to collaboratively develop technology, design services, and prepare operations to support the next phases and future launch of the virtual bank.
